SOMBRERO LATIN LIMITED

Company Registration Number:
09057988 (England and Wales)

Unaudited statutory accounts for the year ended 31 May 2023

Period of accounts

Start date: 01 June 2022

End date: 31 May 2023

SOMBRERO LATIN LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2023

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

SOMBRERO LATIN LIMITED

Company Information

for the Period Ended 31 May 2023




Director: A E Pinto Henriquez
Registered office: Flat 3, 165a
Elm Grove
Southsea
Hampshire
PO5 1LU
Company Registration Number: 09057988 (England and Wales)

SOMBRERO LATIN LIMITED

Balance sheet

As at 31 May 2023


Notes

2023
£

2022
£
Fixed assets
Intangible assets: 4 3,000 4,000
Tangible assets: 5 16,712 6,255
Total fixed assets: 19,712 10,255
Current assets
Stocks: 34,750 36,250
Cash at bank and in hand: 157,803 85,802
Total current assets: 192,553 122,052
Creditors: amounts falling due within one year: 6 ( 204,087 ) ( 130,997 )
Net current assets (liabilities): ( 11,534 ) ( 8,945 )
Total assets less current liabilities: 8,178 1,310
Provision for liabilities: ( 957 ) ( 1,188 )
Total net assets (liabilities): 7,221 122

The notes form part of these financial statements

SOMBRERO LATIN LIMITED

Balance sheet continued

As at 31 May 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 7,121 22
Shareholders funds: 7,221 122

For the year ending 31 May 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 1 December 2023
And Signed On Behalf Of The Board By:

Name: A E Pinto Henriquez
Status: Director

The notes form part of these financial statements

SOMBRERO LATIN LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents net invoiced sales of services, excluding value added tax.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
    Plant and equipment - 15% on reducing balance
    Motor vehicles - 20% on reducing balance

    Intangible fixed assets amortisation policy

    Goodwill is amortised on a straight-line basis over the estimated economic life. The estimated economic life is 10 years.

    Other accounting policies

    Taxation Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly to equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted Deferred tax Deferred tax is recognised in respect of all timing differences that have originated but not reversed

SOMBRERO LATIN LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 1 1

SOMBRERO LATIN LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2023

  • 3. Off balance sheet disclosure

    No

SOMBRERO LATIN LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2023

4. Intangible assets

Goodwill Total
Cost £ £
At 01 June 2022 10,000 10,000
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 31 May 2023 10,000 10,000
Amortisation
Amortisation at 01 June 2022 6,000 6,000
Charge for year 1,000 1,000
On disposals - -
Other adjustments - -
Amortisation at 31 May 2023 7,000 7,000
Net book value
Net book value at 31 May 2023 3,000 3,000
Net book value at 31 May 2022 4,000 4,000

SOMBRERO LATIN LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2023

5. Tangible assets

Plant & machinery Motor vehicles Total
Cost £ £ £
At 01 June 2022 1,750 19,500 21,250
Additions - 16,300 16,300
Disposals - ( 6,500 ) ( 6,500 )
Revaluations - - -
Transfers - - -
At 31 May 2023 1,750 29,300 31,050
Depreciation
At 01 June 2022 1,129 13,866 14,995
Charge for year 93 4,046 4,139
On disposals - ( 4,796 ) ( 4,796 )
Other adjustments - - -
At 31 May 2023 1,222 13,116 14,338
Net book value
At 31 May 2023 528 16,184 16,712
At 31 May 2022 621 5,634 6,255

SOMBRERO LATIN LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2023

6.Creditors: amounts falling due within one year note


2023
£

2022
£
Taxation and social security 8,986 9,340
Other creditors 195,101 121,657
Total 204,087 130,997